From the Covid-19 panic to the Dutch Tulip mania in 1673, here are 10 of the worst stock market crashes in history
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Generally driven by investor panic and loss of confidence in the markets, often after a period of excitement and speculation, market panics are features of the financial and economic system around the world. As the May futures contract for oil expired, many traders were faced with taking delivery of physical oil, so were forced into panic selling, which in turn pushed the commodity below zero.
Possible triggers of the market crash include a surprise devaluation in the Chinese yuan and a weakened outlook for China's growth, which then put pressure on emerging economies that relied on China for growth. By the end of 2001, dozens of companies had gone bust, and the share prices of tech giants like Cisco and Intel plunged.It took the tech-heavy Nasdaq fifteen years up to April 23, 2015 to regain its dot-com peak. With its origins in Thailand, a severe financial crisis struck many Asian countries in late 1997.
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